Array Technologies vs Enphase Energy
Array Technologies and Enphase Energy are similar in size: $1.28bn and $1.47bn of revenue in their latest fiscal years. Array Technologies grew faster (40.2% against 10.7%). Enphase Energy kept more of each dollar of sales as profit: a net margin of 11.7% against -4.1%.
| Latest fiscal year | Array TechnologiesARRY, 2025 | Enphase EnergyENPH, 2025 |
|---|---|---|
| Revenue | $1.28bn | $1.47bn |
| Revenue growth | 40.2% | 10.7% |
| Net income | −$52.2m | $172m |
| Operating margin | -2.3% | 10.7% |
| Net margin | -4.1% | 11.7% |
| Return on equity | — | 17.9% |
| Free cash flow | $79.8m | $95.9m |
| Cash | $244m | $474m |
| Total debt | $683m | $1.20bn |
| Debt to equity | — | 110.8% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $130m |
| Employees | 1,200 | 2,872 |
| Market value | $726m | $4.01bn |
| Price vs our value range | Below our value range | Above our value range |
| Moat score | 26 (Weak) | 58 (Moderate) |
| Insider trades, 12 months | 0 buys, 0 sales | 7 buys, 8 sales |